What to Do if You Owe Taxes But Can’t Pay
- Steps to take if you owe taxes and can’t pay
- Payment options to pay your tax debt
- Payment options to avoid
- The bottom line
Steps to take if you owe taxes and can’t pay
Pay as much as you can by the filing deadline
Notify the IRS
Full payment agreement
Partial payment installment agreement or offer in compromise
- Filed all tax returns
- Made all required estimated tax payments for the current tax year
- Made all required federal tax deposits for the current quarter if you own a business with employees
Temporarily delay collection
Whatever you do, do not ignore any IRS notice
Payment options to pay your tax debt
Use a credit card
Get a home equity loan
Use a home equity line of credit
Get a personal loan
Payment options to avoid
Car title loans
The bottom line
Reclaim Up to $610/Year in Car Insurance
Here’s the thing: your current car insurance company is probably overcharging you. But, who has the time to look around for around a new company?
A website called CarInsurance.net makes it super easy to see if you’re getting the lowest price. All you have to do is enter your ZIP code and your age, and it’ll show you your options.
Using CarInsurance.net, people have saved up to $610 a year.
It takes just a few minutes to see how much CarInsurance.net could put back in your pocket. And the best part? Because we’re driving less, some insurers are slashing prices this month.